The Korean banking sector is making a great effort to support the Hyundai business group, with Cho Hung Bank (CHB) saying Friday that it would extend for another three months its offer of a W50-billion overdraft limit for Hyundai Engineering & Construction (HEC) due to expire the same day.

Hanvit Bank have also extended the June 29 maturity date of HEC-issued commercial papers to the end of the next quarter.

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In addition, Korea Exchange Bank has extended the validity of a W50-billion overdraft ceiling for HEC and Hyundai Merchant Marine (HMM)for another three months. This had also been due to expire by the end of June.

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